There is every political incentive to make these interventions in the banks and autos temporary and circumscribed. For President Obama, autos and banks are sideshows. Enormous sideshows, to be sure, but had the financial meltdown and the looming auto bankruptcies not been handed to him, he would hardly have gone seeking to be the nation’s credit and car czar.Read the whole thing. And congrats to Charles for winning the Eric Breindel Award for Excellence in Journalism.
Obama has far different ambitions. His goal is to rewrite the American social compact, to recast the relationship between government and citizen. He wants government to narrow the nation’s income and anxiety gaps. Soak the rich for reasons of revenue and justice. Nationalize health care and federalize education to grant all citizens of all classes the freedom from anxiety about health care and college that the rich enjoy. And fund this vast new social safety net through the cash cow of a disguised carbon tax.
Obama is a leveler. He has come to narrow the divide between rich and poor. For him the ultimate social value is fairness. Imposing it upon the American social order is his mission.
Just so you understand, in Obama's world "fairness" means taking money from the producers and giving it to non-producers. It means taxing some wageearners at 40%+ while not taxing nearly half of all wageearners.
If you have money, you must have stolen it from somebody else and therefore must have it taken away so it can be given back to the "real owners".
It's socialism, pure and simple. Spreading misery evenly.
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